Coinye, a semi-defunct cryptocurrency, is worth mentioning solely for its bizarre backstory.
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Bitcoin (BTC) crashed to just $8,100 on Oct. 21 — but only if you were trading on Binance’s dedicated United States exchange, Binance.US.
But while it’s based on sound, democratic principles, cryptocurrency remains a technological and practical work in progress. For the foreseeable future, nation-states’ near-monopoly on currency production and monetary policy appears secure.
We can speculate on what value cryptocurrency may have for investors in the coming months and years (and many will), but the reality is it’s still a new and speculative investment, without much history on which to base predictions. No matter what a given expert thinks or says, no one really knows. That’s why it’s important to only invest what you’re prepared to lose, and stick to more conventional investments for long-term wealth building.
Responding to regulatory pressure, Binance has curbed some services on cryptocurrency bets, highly leveraged positions and trading with tokens linked to shares, and has pledged to beef up its compliance staffing.
These are just two of the cryptocurrencies that challenge Safemoon’s dominance, and some, like Bitrise, face very stiff competition against Safemoon on the basis of the products on offer, among many other features. From the powerful wallet to exchanges, among many other products, the coin is one of Safemoon’s toughest competitors.
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If they manage to do that, the BNB/USDT pair will challenge the overhead resistance at $691.80. The rising moving averages and the RSI in the overbought zone indicate the path of least resistance is to the upside.
Despite those benefits, Binance.US is much less transparent than many competitor exchanges when it comes to security, storage options, and customer assistance. For most long-term, retirement-minded investors, we’d recommend sticking with exchanges such as Coinbase or Gemini, which are much more transparent about these key operations.
© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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In addition to the fiat ramp exchanges, Binance has launched a decentralized exchange and it is adding much-requested features such as margin trading. The company also took an investment from Singapore’s Vertex Ventures, one of a number of sovereign funds in the country, to develop its Binance Singapore service.
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